Saab has announced that it has received a financial commitment from U.S.-based North Street Capital. The offer has arisen over doubts that the deal previously brokered with Chinese automakers Pang Da and Youngman will actually come to fruition. Saab intends to accept the new offer from its U.S. suitor. The deal commits North Street Capital to 2,386,635 ordinary shares of Swan at $4.19 per share. In addition, North Street will loan Saab $60 million in exchange for a first lien on certain Saab assets as collateral.
Autoblog, Saab secures private equity investor, doubts timing of Chinese money
